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MEBANE, N.C. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly delivered store in Mebane, a city that lies midway between Durham and Greensboro, N.C. Tractor Supply Co. occupies the store, which was delivered last year, on a 20-year lease that features 5 percent rent increases in the initial term.
Don McMinn and Andrew Koriwchak of Taylor McMinn Retail brokered the transaction between the out-of-state 1031 exchange buyer and the seller, an unnamed development firm.
“This transaction highlights our ability to source larger 1031 exchange buyers for investment-grade net lease assets,” says McMinn. “We generated multiple competitive offers, drove pricing and secured non-refundable earnest money on day one.”